SiteOne Landscape Supply, Inc. $SITE Shares Sold by Wasatch Advisors LP

Key Points

• Wasatch Advisors cut its SiteOne stake by 40.2% in the second quarter, selling 851,847 shares and retaining 1.27 million shares worth approximately $145.3 million.
• SiteOne shares opened at $98.89, down 0.5%, and remain well below their 12-month high of $168.56. CEO Doug Black purchased 8,000 shares at an average price of $102.03, while a director sold 562 shares under a Rule 10b5-1 plan.
• The company reported quarterly EPS of $3.14, missing the $3.36 consensus estimate, while revenue rose 4.7% year over year to $1.53 billion. Analysts’ consensus rating is Hold, with an average price target of $135.27.

Wasatch Advisors LP decreased its stake in shares of SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) by 40.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,269,677 shares of the industrial products company's stock after selling 851,847 shares during the period. Wasatch Advisors LP owned about 2.87% of SiteOne Landscape Supply worth $145,264,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in SiteOne Landscape Supply by 19.1% in the second quarter. GAMMA Investing LLC now owns 2,197 shares of the industrial products company's stock valued at $251,000 after buying an additional 352 shares during the last quarter. Basecamp Wealth Advisors LLC raised its stake in SiteOne Landscape Supply by 219.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 185 shares of the industrial products company's stock valued at $25,000 after buying an additional 127 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in SiteOne Landscape Supply by 539.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,550 shares of the industrial products company's stock worth $339,000 after buying an additional 2,151 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in SiteOne Landscape Supply by 13.4% during the 1st quarter. Glenmede Trust Co. NA now owns 4,998 shares of the industrial products company's stock worth $665,000 after buying an additional 592 shares during the last quarter. Finally, Argent Capital Management LLC acquired a new position in shares of SiteOne Landscape Supply in the 1st quarter worth approximately $31,917,000.

Insiders Place Their Bets

In other news, CEO Doug Black purchased 8,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average price of $102.03 per share, for a total transaction of $816,240.00. Following the completion of the transaction, the chief executive officer owned 8,000 shares of the company's stock, valued at approximately $816,240. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fred M. Diaz sold 562 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $112.52, for a total transaction of $63,236.24. Following the completion of the sale, the director directly owned 11,267 shares in the company, valued at approximately $1,267,762.84. This trade represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company's stock.

SiteOne Landscape Supply Stock Down 0.5%

Shares of SiteOne Landscape Supply stock opened at $98.89 on Wednesday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.44 and a beta of 1.35. SiteOne Landscape Supply, Inc. has a twelve month low of $90.07 and a twelve month high of $168.56. The company has a current ratio of 2.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36. The business's 50 day simple moving average is $105.23 and its 200-day simple moving average is $124.27.

SiteOne Landscape Supply (NYSE:SITE - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.22). SiteOne Landscape Supply had a net margin of 3.41% and a return on equity of 9.76%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm earned $2.86 EPS. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts forecast that SiteOne Landscape Supply, Inc. will post 3.93 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on SITE. Robert W. Baird dropped their price target on SiteOne Landscape Supply from $160.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 28th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $100.00 price objective (down from $153.00) on shares of SiteOne Landscape Supply in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and set a $160.00 target price for the company in a research note on Thursday, April 30th. Zacks Research cut shares of SiteOne Landscape Supply from a "hold" rating to a "strong sell" rating in a report on Monday, June 22nd. Finally, KeyCorp reduced their price target on shares of SiteOne Landscape Supply from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $135.27.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.

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